Is synthetic data the future of all data needs?

Quick Summary:

Synthetic data, which generates artificial datasets that mimic real-world characteristics, is emerging as the key to overcoming data scarcity, privacy, and IP barriers.

The 2024 AI Index Report by Stanford University underscores this challenge, predicting that high-quality language data could be depleted by 2024, low-quality language data within two decades, and image data by the late 2030s.

Unlike real-world data, synthetic data is scalable, diverse, and customisable, making it a game-changer for AI/ML development.

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Author / Journalist: Brand Solutions

Category: StartupsEconomyBusiness

Markets: India

Topics: Technical Real-world Businesses Protection Synthetic Privacy Laws Models Data Information Legal

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Article Type: News Report

Published On: 2024-12-19 @ 05:42:31 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 543 words

Reading Time: 4 minutes read

Sentences: 39 lines

Sentence Length: 14 words per sentence (average)

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News ID: 24544456

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Main Topics: StartupsEconomyBusiness

Official Website: yourstory.com

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